Bidders go high for Equinor aframax and LR2 tanker newbuildings
Owners with pre-steel price-rise options could be in a competitive position Norway’s Equinor has received a wide range of offers from shipowners for a raft of dual-fuelled aframax and LR2 tanker newbuildings, with some priced at 15% to 20% above recently concluded vessel deals due to the recent hike in steel prices. Brokers said bids […]
Brexit – To be, or not to be
Shifting leadership on both sides creates the possibility of a deal being finalized. Although the battle for Tory leadership, and thereby also the prime minister position is ongoing, both candidates seem determined to deliver Brexit. The leading candidate Boris Johnsen has sat an exit deadline of October 31, where he will leave with or without a deal. The […]
Tanker Market Outlook 2019
The reply from the industry on the present outlook of the tanker- market is positive. Shipowners are currently stating “the market turned for the better last year”. Adding that ongoing trade wars and geopolitical tensions are, if anything only a “positive stimuli” for the tanker- freight demand. “Geopolitical tensions are positive for the tanker- market […]
Dry Bulk – Rough sea at the start of the year – Exciting times ahead!
There is no secret that the dry bulk market took a significant dive at the beginning of the year. Although, the first quarter historically is a low season where the dry bulk market normally experience lower rates due to Chinese new years, this time around unpredictable events hit the market hard. The Feijão dam in […]
7th Annual Marine Money Geneve
Managing Partner Mr. Fredrik Larsen of EMF- European Maritime Finance, was invited to share his opinions on the shipping- market outlook at the 7th annual Marine Money Conference in Geneva earlier in May this year. Holding the tanker market as the favorite and most bullish of options moving into the 2020´s, Mr. Larsen discussed the […]
Aframax in the front seat
Tropical Storm “Gordon” tightens the tonnage availability Aframax owners is currently enjoying remarkably higher rates due to the bad weather in the US Gulf, up almost 15% over night. The average global freight rate has surpassed $16.000 a day, up around $3.000 from last week. The Aframax market has been on the strong side the […]
New VLCC vehicle ready for Oslo Stock Exchange
ADS Crude Carriers, a company founded by Arendals Dampskibselskab (ADS) in 2015, is heading for Merkur Market. Merkur Market is a marketplace owned by Oslo Stock Exchange, offering the fastest admission process in Europe. According to Tradewinds, Oslo Stock Exchange has approved the listing and first trading day will be today, Tuesday. ADS Crude was […]
Oil cartel OPEC increases production
Removes production cuts equal to 1 million barrels a day According to Reuters, OPEC has reached an agreement, despite the disagreement that existed before the meeting, to reduce production cuts equivalent to one million barrels a day. This means an actual increase of 600.000 barrels from today’s production levels. There is always some uncertainty about […]
